How to create a winning business model for your startup
Too often, startups die early or leave money on the table because they never took the time to systematically discover & validate their business model. In this episode, we take a look an algorithm you can use to do just that.
Most founders would do well to challenge their business model.
Not because it’s not a good one, but because it’s one of those areas that just doesn’t get enough focus in our journey. We do a business model canvas, and we tweak customers and tweak value propositions, but often not much else. The revenue model, for example, sometimes never changes from our initial idea. We already decided it was a subscription service, and so we never looked back.
But this misses a huge opportunity to explore the available business models in a methodical, systematic way to find the best business model hypotheses available — and to find a way to test them to find the right one for our startup.
It’s time we fixed that. So, on this week’s Startup Shop Talk live show, Dan and JDM are going to reveal a little algorithm you can use to not only surface a large number of potential business models for your startup, but also to filter through those ideas to find the one winning business model on which to focus your energy.
It’s a business model extravaganza! We're going to be talking about customers, value propositions, value networks, revenue logic, mental models, assumptions testing, & more!
About the Show
Startup Shop Talk is a weekly, interactive live show entirely about startups & innovation — from idea to product-market fit. Hosted by DCM of The Lean Innovator and JDM of The Right Box, Customers Wanted is an open-ended forum where entrepreneurs can ask questions about innovation, entrepreneurship, the startup lifestyle, tools, techniques, & more, to startup advisors, investors, entrepreneurs, & their peers. Because, how do you eat an elephant? One bite at a time.
We're live every Friday at 11am PDT. Grab a coffee, bring your questions, bring your advice, and dive in!
Published 4 months ago